QuantumSphere, Inc. completed the acquisition of Way Cool Imports, Inc. in a reverse merger transaction.
April 22, 2014 at 12:00 am EDT
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QuantumSphere, Inc. entered into an agreement and plan of merger to acquire Way Cool Imports, Inc. in a reverse merger transaction on November 15, 2013. Pursuant to the merger, Way Cool Imports will acquire up to 17.6 million outstanding shares of common stock of QuantumSphere, options to purchase up to 5.4 million shares of common stock of QuantumSphere, warrants to purchase up to 9.7 million shares of common stock of QuantumSphere will be exchanged, on a one-for-one basis for shares of common stock and the sum of $0.05 million.
The transaction is subject to due diligence investigation, approval of amendment and restatement of the articles of incorporation of QuantumSphere by Board and shareholders of QuantumSphere and shareholder approval. Cletha A. Walstrand, P.C. acted as the legal advisor for Way Cool Imports and Robert C. Kim of Ballard Spahr LLP acted as the legal advisor for QuantumSphere.
QuantumSphere, Inc. completed the acquisition of Way Cool Imports, Inc. in a reverse merger transaction on April 22, 2014. Post acquisition Way Cool Imports, Inc. changes its name to QuantumSphere, Inc.
QuantumSphere, Inc. (QSI) has developed a process to manufacture metallic nanopowders with end-use application focused on the chemical sector. The Company's principal activities include capital formation, research and development, and marketing of its metallic nanopowder products. The Company manufactures various metals, bi-metallic alloys and catalysts at the nanoscale, including iron, silver, copper, nickel and manganese. It offers custom dispersions and integrated catalytic solutions for the energy storage and chemical sectors, including nanoscale gold, palladium, aluminum and tin. The Company's products include QSI-Nano Iron, QSI-Nano Silver, QSI-Nano Copper, QSI-Nano Nickel and QSI-Nano Manganese. As of June 30, 2015, the Company had 16 gas phase condensation reactors, which it utilizes in the manufacture of nanocatalysts. With 16 reactors, the Company's capacity was approximately 300 kilograms per month at June 30, 2015.
QUANTUMSPHERE, INC. 
